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20120925
20121003
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on top of a recessionary environment is a toxic mix. >> the ecb saying spanish bank deposits down 1.1% on the month in august, which means they're now the lowest level since april 2008. and we've got a prime minister there who has effectively said to the markets come out and short me because we're not going to go for a bailout unless webo costs go higher. and he's trying to delay aid until after the catalonia elections. and that seems like a pretty thin tight rope to walk. loan i. >> and we'll get the report on just how much money the banks need. it is suspected it will be in the 60 billion plus. but the elections on october 21st, that's rajoy's own province. and then you have the cat lo loaniloa loanian region think they're the richest region giving too much to the others. the rest of the region has seen a dramatic change. during the good times, they had revenue. from the developers, people buying properties, now that's all going and they're left from the legacy. from cat loan i can't to the canaries, you name it, all of these places, they're all struggling.alonia to the canari you
there are byproducts. one is low kreeyields. >> regulators keep saying because of the low yield environment, buy more bonds because they now have a pension deficit. that's nonsense, of course. what's happening on the corporate side? they're awash with capital. are we also getting less issuance and how much more money do corporates need to have? >> what's interesting is the eurozone credit market is shrinking year on year which is the first time it's done that for a long time. there's not only less issuance, there's less coming out to meet, retiring effectively. corporates as kelly said earlier, the economic outlook is not rosy. the motivation to carry out m&a activities is relatively low. so i expect the trend to continue. >> and the quality they're issuing isn't all that great either. >> the good quality have all the cash they need. so, you know, they don't need any who are. >> most of them have the cash. i think the good quality borrowers can borrow really easier. there's huge 2k3457demand for h the spreads are tight. >> angela merkel and mario draghi are both delivering speeches in berlin today. o
to stimulate cargo. the cargo has to be there from the manufacturers and from the general economic environment. but next year, the car go industry might pick up a little bit. the conditions for cargo are still very bad now. but again, overall the industry of course is still more passenger than cargo. and it's been a bit of a double whammy this year because for the long call carriers operating out of asia, they're heavily exposed to markets like europe where there's been an impact. >> are we going get anymore meaningful consolidation? i don't see eus saying to america you should really allow for proper mergers between european and u.s. airlines. do you think that's ever going it to be allowed? >> there's still a lot of steps to be taken to allow that to happen. true global consolidation, a lot of countries still have policies that limit foreign investment in the airline sector. so we need to see a lot of changes in the regulatory environment to allow that to happen. in the meantime, we did see a lot of consolidation continue to happen within regions like latin america, like north america, like
and retail business are rising. and also in some lines of the industrial business. so the overall environment for the insurance industry is very good. your free float is about 20%. will you stop here for a while or will you raise money in the future? >> we'll raise money in the future, however, not for the next 24 months. we are sufficiently capitalized now after this ipo on for the next 24 months, but there will be further capital increases in the future. this is just our first step in to becoming a listed insurance company. >> all right. and just give us your view where we stand at the moment with the world economy. because it's interesting where you're looking at your operations. eurozone still in the grips of recession or low growth, weaker growth in asia. just give us your sense of how you view the world and how it transfers back into your business. >> i'm 100% sure that the euro will survive. the euro is instrumental for the future of europe. the emerging market particularly in brazil and mexico are very interesting growing markets for the future. and also the middle and eastern europea
business decisions being made as a result of the uncertainty in the macro environment. >> the dow up 10%. the s&p 500 up nearly 500. nasdaq up nearly 20%. the dax up 25. pretty nice gains. at the beginning of the year, you would have taken all of those for the year, right? >> certainly. the reason being, actually stocks and corporates are generally in this economic crisis that we're seeing around the western world are the safe haven. you don't want exposure to governments. you don't want exposure to consumers. the corporates can manage their cost base. they can move where the demand is much more freely than say consumers can and governments can. so at the moment, money's got to go somewhere and it's hard to get too bearish on equities, given the yields and actually how demand is holding up for these organizations. >> that's what you were talking about, where else that money might go. so look, for example, at corporate credit where we've seen such an inflow into high yield. we've seen high yield returning in the range of 17% this year. so if you look into next year when it already looks
a little risk on in the short term, but european markets underperforming the u.s. >> in this environment, i'm a reluctant supporter of kuwaequi. you look at what we have, where bond yields are, where credit has gone over the course of the last six, eight months, you have to end up saying equities are the best of a band bunch. >> an improvement in the pace of job let claim filings. so just how much momentum is the world's juggernaut economy carrying into the fourth quarter? drew mattes joins us in studio. thanks for coming by. what is your view on the u.s. economy, how much momentum really is there as we look into the fourth quarter and next year? >> you're looking at growth in the fourth quarter probably not going to breach 2%. we're just going to have to learn to live with that. and as much as the job rest claims numbers are good news, we still haven't seen the pick up in hiring. so until we see that, i don't think you can get that much momentum. sdl they 00 a discussion about stall speed. are we headed in to recession or do we expect to slug it out here? >> what we found is the volatility
Search Results 0 to 5 of about 6